LockTrip Reports a Record $532,000 in Bookings for Q2 2023!

In the second quarter of 2023, a total of 3,538 room-nights were booked through the LockTrip.com marketplace. This represents a 108% increase year over year. The total volume of bookings reached a record $532,000 — up 136% over the same period of last year.

In the chart below, you will see the amount of room-nights booked in the trailing twelve months period (TTM) for each quarter.

Top 10 countries by booking origin:

• Croatia
• Serbia
• Germany
• Bulgaria
• Bosnia and Herzegovina
• Netherlands
• United States
• Austria
• Ireland
• Belgium

Geographical Distribution

The above map shows the geographical distribution of the booked destinations. A total of 77 countries were booked by LockTrip customers, spread across 6 continents. The most popular country was Italy, accounting for 10% of all bookings!

Looking at the continental distribution, the biggest winner was Europe, growing its share from 54% to 70%, thanks to the well performing Mediterranean countries such as Italy, Greece, France and Spain.

This came mostly at the expense of Asia and North America, which both saw their shares decline.

Payment Methods

Regular crypto payments accounted for 2.6% of all bookings, however, they contributed 5.6% in terms of volumes, thanks to a higher average value compared to credit card bookings.

The newly introduced Hydra-native payments, which include LOC, HYDRA and CHANGE accounted for 2.6% of all bookings.

Distribution of Booking Values

In the graphic below, each bubble represents an individual booking.

The average booking value was $439, which is a slight increase from the $402 in the previous quarter. The deviation around this average is large, with the lowest and highest value bookings ranging from $2.29 on the low end up to $9,400 for the booking with the highest value.

Discounts & Pricing

In the past quarter, 72% of bookings made on LockTrip.com had an estimated discount compared to traditional booking sites. The remaining 28% were either not discounted, or there was not suffient data to estimate the discount.

On average, LockTrip.com users realized 17% in estimated savings across all bookings — and 23% considering only bookings with a discount.

LOC Burns

The burning mechanism of LOC sits at the core of the project and fuels it long-term value with every booking made. The chart below shows the recent history of the LOC burns.

The accelerating trajectory is fueld by two factors:

• Increase in the booking volumes
• Decrease in the LOC price

The second quarter marked a new record with 20,000 LOC being burnt and therefore permanently removed from circulation!

Since the end of Q2, another 9,600 LOC were sent to the burn address and an additional 10,000 LOC are waiting to be burnt as customers check into their already booked hotels.

👉 Join the LockTrip Community

LockTrip is a blockchain-based travel marketplace that allows users to save up to 60% on their bookings by cutting out middlemen. Every booking burns LOC proportionally to its booking value, continuously reducing its total supply.